Only look at after-inflation and after-tax interest rates.
Posted by John Reed on
Stop talking about interest rates before inflation and taxes. The current mortgage interest rate is 6.79%. Inflation is 8.6%. That means the real interest rate is minus 1.81%. That is good news, not bad news.
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If the interest is deductible on your income tax return, that means the AFTER-TAX cost is less if the real interest rate ever gets to be positive.
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Hannity and others are so eager to paint Biden as bad, and uninterested in the truth, that they mislead by omission. Biden is bad in many, many ways, but driving down home prices is not one of them so far.
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And that means you should buy a mortgaged home now if you want one and can afford it, not sit out the current market waiting for Hannity’s mythical, imaginary home price drop.
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